"My brother-in-law is too showy, isn't he? Wakanda Fund, it's a shame he figured it out."
Wang Yiduo suppressed laughter, leaned down and whispered in Zhao Erya's ear.
"I think it's great. Africa also dreams of having a Wakanda!"
Zhao Erya knew that this was Zhang Yida's bad taste again, but she still defended her boyfriend.
Onu covered his forehead and confirmed: "Is it the Wakanda in the Marvel movie "Black Panther"?"
Zhang Yida nodded, "Yes, Wakanda is the richest and most powerful country in the world. I believe that African brothers can realize this wish one day.
The purpose of Wakanda Fund's investment in African technology companies is to help the African people rise and become rich and powerful."
Onu nodded, saying so, I feel that the name of this fund is quite high-end, and at the same time, it will have a lot of popularity once it is established.
Isn’t this an infringement?
Onu expressed his doubts.
Zhang Yida waved his hand, "This is a minor problem. We can discuss it with Marvel and get their authorization.
I believe they will be very happy, and maybe they won’t charge any money. This is also a good opportunity to help them make Marvel famous.”
Onu nodded, stopped worrying about the name of the fund, and began to care about the size of the fund.
"The first phase is tentatively set at US$100 million!"
Zhang Yida waved his hand and the little target went out.
"this……"
Onu stuttered a little because he was too happy.
Zhang Yida thought that the other party was not satisfied, so he added: "Minister Onu, 100 million US dollars is a lot, too much. Looking at the African technology startup market, it is unbearable.
If I invest 1 billion or 800 million, that's not called venture capital anymore, it's called mergers and acquisitions.
This is not the final number, and we can add more later depending on the situation."
Onu realized that he had lost his temper, so he picked up the Moutai on the table with a smile, filled it for himself, picked up the wine glass and said: "Come, Mr. Zhang, let me toast you and thank you for your contribution to the everlasting friendship between China and Nepal."
."
Zhang Yida picked up his wine glass, clinked it with Onu, took a sip, and said with a smile: "If Nigeria can put more effort into its Internet infrastructure, I believe it will be able to attract more capital."
Onu nodded. It sounds easy to say, but it costs a lot of money to do. He has proposed bills many times at cabinet meetings, but there is no money, which makes him very frustrated.
"By the way, Mr. Zhang, where do you plan to place the headquarters of your Wakanda venture capital fund? Will the investment be for the entire Africa?"
Zhang Yida knew what Onu meant and replied with a smile: "The investment is for the entire African market, but we plan to put the headquarters in Lagos.
Of course, branches will also be established in countries such as South Africa, Kenya, and Egypt."
Upon hearing that the headquarters was located in Lagos, not only Onu, but also the governor next to him, Babajide Sanwulu, couldn't help but come over and said that as long as the Wakanda Fund landed in their Lagos, they would give them the maximum effort.
Various support including security and tax incentives.
Commerce Minister Idris Waziri also spoke, with the same support.
After the meal was over, the things that needed to be discussed were discussed, and several Nigerian officials left happily.
Zhang Yida had a private conversation with the two consuls in a tea room of the hotel.
"Mr. Zhang, as the Consul of Lagos, I am very happy and supportive of your investment in Africa. Hasn't the country always called on private enterprises to go global? The brilliant achievements Ruixiang has achieved around the world are obvious to all."
Chu Maoming, the Consul General in Lagos, changed his tone, "However, the security of enterprises, especially Chinese employees, must be strengthened."
Then, Consul Chu told Zhang Yida about the political situation and public security environment on the African continent, especially Nigeria.
Vice Consul Guan Zhongqi introduced Nigeria’s business environment in detail.
Zhang Yida felt that the two consuls were very conscientious and conscientious. Although he had seen these situations through the information and letters collected by Chuanrui, they were still willing to accompany you to talk about these things at night, so he had to accept this sentiment.
"If you encounter any difficulties, you must ask employees to come to the consulate. The country is your most solid backing."
Before leaving, Chu Maoming warned again.
Zhang Yida smiled and said: "Definitely, thank you two leaders for your concern."
After sending the two consuls away, Zhang Yida, Shen Beipeng and Xu Xiaoming chatted over drinks in a hotel lounge.
“You still have to be cautious when investing in Africa!”
Xu Xiaoming smiled and said, "This is not about the security risk that my old arms and legs are afraid of, but it means quitting."
After saying that, he looked at Shen Beipeng.
“Jumia is known as Africa’s Ali Baba and is also Africa’s first unicorn company.
It was listed on the New York Stock Exchange in April, with a market value of up to US$4 billion.
But last month, Xiangrong issued a short-selling report and was accused of financial fraud, causing its market value to plummet."
Shen Beipeng picked up the cup, took a sip of wine, and continued: "I don't know if you have read the financial report. Jumia is suffering from serious losses. While the losses are expanding, revenue growth is slowing down. This is a very bad signal."
Zhang Yida nodded and agreed with this point of view.
As the first African technology company to be listed in the United States, Jumia is very typical and deserves careful analysis.
By analyzing Jumia, we can observe many problems in the African technology entrepreneurship market.
"German Rocket Network is a shareholder of Jumia, and those brothers are very opportunistic."
Zhang Yida has dealt with Rocket Network and knows the other party's style of management.
"Oh, I remember, that time we came to Zanda, right? You teamed up with them to trick Ahri."
Zhang Yida looked at Xu Xiaoming, shook his head, and said with a smile: "I didn't trick anyone, they wanted to buy it themselves."
Shen Beipeng pinched his chin and said: "Jumia's current situation has a lot to do with Rocket.com's business style.
Those guys like to follow trends and make quick money, and they are famous all over the world.
However, leaving aside Rocket Network’s impact on Jumia, there are also many problems with this company’s business ideas and direction.
Their businesses include online food delivery service Jumia Food, travel booking service Jumia Flights and advertising classified website Jumia Deals, as well as e-commerce logistics infrastructure service Jumia Services consisting of payment system Jumia Pay and delivery services.
At present, they have entered 14 African countries, and their business is very large."
Zhang Yida nodded, "That's right, the step is too big, it's normal for the balls to be pulled.
However, logistics and payment must be done. If not, there will be no way to support the development of e-commerce business.”
Shen Beipeng answered with a smile: "Then the problem comes. In the final analysis, the infrastructure is too backward. We need to build all the wheels ourselves, which will cause huge pressure on the expansion of enterprises."
"wait!"
Zhang Yida said sternly, "The current supporting start-ups are still developing too slowly. The average financing is one to two million US dollars. If you ask them to support Jumia, which is already a unicorn and has entered 14 countries, it will be beyond their capabilities." ."
Shen Beipeng let out a long sigh, "Yes! I just expressed a point of view. If you are determined to do this market, you must be patient.
The Internet foundation in Southeast Asia is stronger than that in Africa. Even so, Internet companies in Southeast Asia are not yet profitable, let alone Africa.
These emerging markets may have to experience a bubble before they calm down.
You can’t just throw bait blindly, but you also have to be patient enough to catch big fish in the end.”
Zhang Yida smiled and nodded. He is worthy of being the king of venture capital. He is always so calm and rational.